Hong Kong economy to grow 2.5%-3.5% in Q1, financial chief says

HONG KONG (Reuters) – Hong Kong’s gross domestic product (GDP) is expected to grow between 2.5% and 3.5% for the first quarter, maintaining moderate growth for a fifth consecutive quarter, the city’s finance chief said on Sunday.

January-March GDP, scheduled to be released on Thursday, is expected to be “within the range of the full-year economic growth forecast”, Financial Secretary Paul Chan said in his blog without elaborating.

Chan in February forecast full-year growth for the Asia financial hub of 2.5% to 3.5% after a 3.2% expansion in 2023.

As Hong Kong seeks new sources of growth points, mega events such as fireworks will be held to lure more tourists, Chan said, adding that 800,000 visitors are expected to visit for China’s labour day holiday on Wednesday.

(Reporting by Hong Kong newsroom; Editing by William Mallard)